How to interpret auto coverage

Quick question, my auto coverage reads bodily injury and personal property damage $50,000 per person/$100,000 per accident/$50,000 per accident. I’m assuming this means bodily coverage is up to $50,000 for one person, $100,000 for 2+ people, and up to $50,000 for damage to a vehicle? If so, I’m assuming this coverage is a little low?